New Credit Suisse executives hiring allies
The makeup of Credit Suisse's securitization staff is showing more signs of influence from Michael Wade and Craig Leonard. The two executives, who arrived in July from Barclays, dismissed syndicate specialists Obi Nwokorie and Kenny Rosenberg on Oct. 26. Around the same time, Leonard hired former Barclays colleague Roger Tedesco to fill the resulting vacancies. Tedesco, who ended a five-year run at Barclays on Oct. 25, is set to take his new post in December. Wade co-heads Credit Suisse's asset-finance team alongside Tricia Hazelwood, with Leonard reporting to him as leader of the bank's securitization-syndicate desk. Nwokorie and Rosenberg, in turn, were working under Leonard. Sources said Nwokorie and Rosenberg were blindsided by their dismissals - and received only small portions of their annual bonuses. Nwokorie joined Credit Suisse's syndicate area in 2006 from UBS. Rosenberg was part of a large group of professionals who signed on with the bank in 2000 from the former Prudential Securities. He initially handled securitization-banking functions, and moved to a syndicate role two years ago. Both held the title of director.